Shares of New Fortress Energy Inc. (NASDAQ:NFE - Get Free Report) traded up 11% during trading on Tuesday . The stock traded as high as $3.22 and last traded at $3.20. 1,540,209 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 7,967,165 shares. The stock had previously closed at $2.88.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on NFE shares. Deutsche Bank Aktiengesellschaft set a $8.00 target price on New Fortress Energy in a report on Wednesday, March 12th. BTIG Research set a $8.00 price objective on shares of New Fortress Energy and gave the stock a "buy" rating in a report on Thursday, May 15th. Morgan Stanley set a $4.00 target price on shares of New Fortress Energy and gave the stock an "equal weight" rating in a research note on Tuesday, May 27th. Stifel Nicolaus cut their price target on New Fortress Energy from $16.00 to $14.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Finally, Citigroup reduced their price objective on shares of New Fortress Energy from $34.00 to $8.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $10.17.
Read Our Latest Research Report on New Fortress Energy
New Fortress Energy Price Performance
The stock's 50-day moving average is $4.68 and its two-hundred day moving average is $9.64. The company has a current ratio of 0.38, a quick ratio of 0.35 and a debt-to-equity ratio of 4.06. The company has a market capitalization of $855.54 million, a PE ratio of 3.43 and a beta of 1.21.
Insider Activity
In other news, CFO Christopher S. Guinta purchased 5,000 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The stock was bought at an average price of $8.57 per share, for a total transaction of $42,850.00. Following the completion of the purchase, the chief financial officer now directly owns 206,653 shares of the company's stock, valued at $1,771,016.21. The trade was a 2.48% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 29.40% of the company's stock.
Hedge Funds Weigh In On New Fortress Energy
Several institutional investors have recently bought and sold shares of NFE. Rhumbline Advisers raised its position in New Fortress Energy by 3.7% during the first quarter. Rhumbline Advisers now owns 101,283 shares of the company's stock worth $842,000 after acquiring an additional 3,653 shares during the last quarter. Bayforest Capital Ltd purchased a new stake in New Fortress Energy during the first quarter worth approximately $551,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in New Fortress Energy by 42.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 280,706 shares of the company's stock worth $2,333,000 after acquiring an additional 83,279 shares in the last quarter. Clearline Capital LP purchased a new position in shares of New Fortress Energy in the first quarter valued at $677,000. Finally, Goldman Sachs Group Inc. lifted its stake in shares of New Fortress Energy by 133.4% in the first quarter. Goldman Sachs Group Inc. now owns 865,826 shares of the company's stock worth $7,195,000 after acquiring an additional 494,848 shares in the last quarter. 58.61% of the stock is owned by institutional investors and hedge funds.
New Fortress Energy Company Profile
(
Get Free Report)
New Fortress Energy Inc operates as an integrated gas-to-power energy infrastructure company that provides energy and development services to end-users worldwide. The company operates in two segments, Terminals and Infrastructure, and Ships. The Terminals and Infrastructure segment engages in the natural gas procurement and liquefaction; and shipping, logistics, facilities and conversion, or development of natural gas-fired power generation.
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